The Lists

Top 40 Molecular Millionaires

Who’s stocking up on biopharma stock?

We’ve doubled our list from last year and this time included all categories of shares of common stock. [AlienForce - Fotolia.com]

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Following is a list of 40 executives of publicly traded biopharma drug developers and tools/technology companies, ranked by the total value of their shares of common stock as stated on the companies’ proxy statements or Form 20-F statements. Each executive is listed with their title and company, the total value of their shares of common stock, the number of shares of common stock (by category where available), and the closing share price of their company’s stock as of the “record date” for determining shareholders entitled to notice of, and to vote at, their company’s annual meeting, with footnotes where applicable.

Unlike the first edition of this list last year (see “Top 20 Molecular Millionaires,” published in GEN October 2, 2012), all categories of shares of common stock were listed—not only the value of their shares of common stock as of the day they were tallied and recorded in filings, but shares of common stock which were exercisable or became so within a set period of time (typically 60 days) from the record date. The change reflects the fact numerous companies recorded the total number of shares of common stock for their largest shareholders—with explanations about multiple common stock categories in footnotes of the proxies or 20-F forms—in order to present a more complete picture of who owns what percentage of the companies’ stock. The change also explains why the top three on this list could better be described as molecular billionaires.

The results showed the wealthiest molecular millionaires were officers, directors, former officers and directors, or investors of mature biotechs—typically those with products on the market, and the profits that follow. Several companies in that category could boast of having multiple executives, directors, or investors on this year’s list: Regeneron Pharmaceuticals led biotechs—and all companies, for that matter—with seven, followed by Vertex Pharmaceuticals (four), Bio-Rad Laboratories and Danaher (three each), and Bristol-Myers Squibb, Life Technologies, and Mettler Toledo (two each).

The results reflect how good a year 2012 was for Regeneron and Vertex. In its proxy report, Regeneron noted the company overachieved its goals for last year, among them continued successful commercialization of Eylea (aflibercept) injection, including launch following FDA approval for a new macular edema indication; and FDA approval of Zaltrap (ziv-aflibercept) injection for IV infusion for use with Folfiri for metastatic colorectal cancer. Vertex launched Kalydeco for cystic fibrosis shortly after it gained FDA approval on August 31, 2012 and quickly racked up $171.6 million in sales, a figure expected to rise significantly this year.

Big pharmas have only a small presence on this list, with only five executives and/or investors from four such companies appearing. Ranking highest among big pharmas, at No. 14, was not a current pharma exec but a retired chairman. The CEOs of two other pharma giants—Joseph Jimenez of Novartis, and Ian C. Read of Pfizer—narrowly missed the top 40.

#40. William P. Sullivan

President and CEO, Agilent Technologies

Total value of all shares: $41,064,949

368,783 shares of common stock; 634,269 shares subject to options exercisable March 1, as of December 31, 20121

Closing price on December 31, 2012: $40.94

#39. David F. Hoffmeister

CFO, Life Technologies2

Total value of all shares: $41,442,973

691,177 shares of common stock as of March 63

Closing price on March 6: $59.96

#38. Ian F. Smith

EVP and CFO, Vertex Pharmaceuticals

Total value of all shares: $41,800,057

795,434 shares of common stock as of March 114

Closing price on March 11: $52.55

#37. Charles A. Baker

Director, Regeneron Pharmaceuticals

Total value of all shares: $47,806,2035

161,974 shares of common stock and 62,384 Class A shares as of April 176,7

Closing price on April 17: $213.08

#36. Peter Mueller, Ph.D.

EVP, Global Research and Development, and CSO, Vertex Pharmaceuticals

Total value of all shares: $52,426,560

997,651 shares of common stock as of April 178

Closing price on April 17: $52.55

#35. George L. Sing

Director, Regeneron Pharmaceuticals

Total value of all shares: $53,434,498

250,772 shares of common stock as of April 179

Closing price on April 17: $213.08

#34. Marc N. Casper

President and CEO, Thermo Fisher Scientific

Total value of all shares: $56,122,022

924,885 shares of common stock as of February 1110

Closing price as of February 11: $60.68

#33. Robert J. Coury

Executive Chairman of the Board, Mylan

Total value of all shares: $57,074,91111

1,087,411 shares of common stock; 879,333 shares with options exercisable and restricted shares vesting within 60 days as of March 26

Do you think giving large amounts of stock to key business officials is a fair method of compensating them?

Notes:1 Includes $15,097,976 in shares of common stock and $25,966,973 in shares subject to options exercisable March 1.2 In April, Thermo Fisher Scientific announced it would acquire Life Technologies for about $13.6 billion, plus assumption of Life Tech’s $2.2 billion in debt. The deal is expected to close early in 2014.3 Includes 77,874 shares owned directly by him, 12,290.30 shares under the deferred compensation plan, 14,495 shares of restricted stock units vesting within 60 days and 586,518 shares issuable upon exercise of options exercisable within 60 days.4 Includes 760,039 shares that may be acquired upon the exercise of options exercisable within 60 days after March 11; and unvested shares of restricted stock as of March 11.5 Includes $34,513,420 in shares of common stock, and $13,292,783 Class A shares.6 Includes 90,000 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17. Includes 590 shares of common stock held by a limited partnership, of which Mr. Baker is a general partner.7 All shares of Class A stock are held by a limited partnership, of which Mr. Baker is a general partner.8 Includes 848,604 shares that may have been acquired upon the exercise of options that were exercisable within 60 days after March 11, and unvested shares of restricted stock as of March 11.9 Includes 120,000 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17. Includes 3,000 shares of common stock held by his spouse; 5,000 shares of common stock held by his spouse as custodian for the benefit of their son; and 10,000 shares of common stock held in a trust, also for benefit of their son.10 Includes 40,241 shares held indirectly, by the Marc N. Casper 2012 Irrevocable Trust, for the primary benefit of Mr. Casper’s minor children, over which Mr. Casper shares dispositive power with the trustee and as to which the trustee has sole voting power; 632,850 shares of Common Stock underlying stock options that are exercisable within 60 days of February 11; and 67,210 restricted stock units that will settle and pursuant to which shares will be delivered within 60 days of February 11.11 Includes $31,556,667 in shares of common stock and $25,518,244 in shares with options exercisable and restricted shares vesting within 60 days as of March 26.12 Includes 227,818 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17; 10,000 shares of restricted stock, which vest on December 14; 5,618 shares of common stock held in an account under the company’s 401(k) savings plan; and 750 shares of common stock held by his wife.13 Includes $17,640,056 in shares of common stock and $45,738,773 in shares acquirable within 60 days of February 15, as of February 15.14 Represents shares of common stock that may have been acquired within 60 days after February 15, upon the exercise of outstanding stock options and the vesting of restricted stock units.15 Includes $35,469,298 in shares of common stock, $25,440,419 in options exercisable/stock units distributable within 60 days, and $3,189,882 in stock units not distributable within 60 days.16 Includes the number of shares of common stock as well as the number of 401(k) plan shares held. Includes 40,396 shares that are owned by a family foundation for which he is a director. Dr. Lechleiter has shared voting power and shared investment power for shares held by the foundation.17 Includes 242,760 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17; 16,666 shares of restricted stock, which vest on December 14; and 5,536 shares of common stock held in an account under the company’s 401(k) savings plan.18 Includes $10,364,631 in shares of common stock and $53,889,666 in shares Mr. Frazier could have acquired through the exercise of outstanding stock options within 60 days of February 28.19 Includes approximate $1,000,000 cash purchase of shares in August 2011.20 Includes $6,072,187 in shares of common stock and $62,383,466 in shares that may be acquired within 60 days.21 Includes shares held directly, and, with respect to executive officers, indirect interests in BD common stock held under the SIP and the DCP.22 Includes unvested stock options or stock appreciation rights that become vested upon retirement, and shares issuable under restricted stock units upon retirement.23 Includes $42,279,638 in shares of common stock and $35,522,977 in shares that were acquirable within 60 days of March 25.24 Includes 14,430 shares he was eligible to acquire upon the vesting of restricted stock units and related dividend equivalents (excluding fractional shares), where the shares were issuable as of March 25, or within 60 days thereafter; as well as 352,505 stock options that were vested as of March 25, or within 60 days thereafter.25 Includes 1,285,875 shares that may have been acquired upon the exercise of options that were exercisable within 60 days after March 11, and unvested shares of restricted stock as of March 11.26 Includes $6,405,628 in shares of common stock and $72,367,922 in shares of common stock subject to currently exercisable options and options exercisable within 60 days of September 1, 2012.27 Includes 152,225 shares of common stock and 1,719,770 shares of common stock subject to currently exercisable options and options exercisable within 60 days of September 1, 2012.28 Includes 122,643 shares of stock subject to a risk of forfeiture; 1,397,168 shares issuable pursuant to options that were exercisable on June 24, or which become exercisable within 60 days of June 24; and 53,171 shares held by a 501(c)(3) charitable foundation, as to which Mr. Solomon disclaims beneficial ownership. Does not include target grants of 95,800 and 43,212 performance stock units granted on December 5, 2011, and May 7, 2012, respectively, which vest, if at all, following the conclusion of fiscal year 2015, based on the achievement of undisclosed performance metrics.29 Includes 456,046 shares owned directly by him, 22,403.90 shares under the deferred compensation plan, 60,532 shares of restricted stock units vesting within 60 days, and 1,251,160 shares issuable upon exercise of options exercisable within 60 days.30 Includes $3,443,892 in direct shares of common stock and $104,744,788 in indirect shares of common stock.31 Includes $17,881,532 in shares of common stock and $105,992,688 in stock options exercisable within 60 days of April 1.32 Includes 15,000 shares owned by Mr. Flatley’s children, as well as restricted stock units (RSUs) vesting within 60 days of April 2. An RSU represents a conditional right to receive one share of our common stock at a specified future date.33 Includes stock options that are exercisable as of April 2, and stock options that vest, or become exercisable within 60 days of April 2.34 Served as president and CEO from 1993 to 2007; has been a director since 1996.35 Includes $78,055,511 in direct shares of common stock and $53,384,484 in indirect shares of common stock.36 Includes 346,826 shares held by his children (with respect to which he retains a life interest, including full voting and dispositive control) and 17,778 shares held by his spouse. The shares are not categorized as direct or indirect.37 Includes $84,114,729 in shares of common stock, $47,621,967 in shares underlying options or stock units, and $901,610 in shares of common stock underlying deferred share units.38 Includes up to 931,218 shares of common stock that are, or may from time to time be, pledged to financial institutions to secure personal obligations of Cornelius. Consists of direct and indirect ownership of shares, shares credited to the accounts of the executive officers under the Bristol-Myers Squibb Company Savings and Investment Program, stock options that are currently exercisable or exercisable within 60 days, restricted stock units that vest within 60 days, the target number of market share units that vest within 60 days, and deferred share units.39 Consists of shares underlying stock options that are currently exercisable or that will become exercisable within 60 days, restricted stock units that vest within 60 days, and the target number of market share units that vest within 60 days. None of these shares have any voting rights.40 Consists of deferred share units that are valued according to the market value and shareholder return on equivalent shares of common stock. Deferred share units have no voting rights.41 Served as CEO from 1992–2009, and as chairman from 1997–2006.42 Includes 1,784,188 shares acquirable through options that were exercisable within 60 days after March 11, and unvested shares of restricted stock as of March 11.43 Includes $81,305,100 in shares of common stock and $59,578,253 in shares underlying options or stock units.44 Consists of direct and indirect ownership of shares, shares credited to the accounts of the executive officers under the Bristol-Myers Squibb Company Savings and Investment Program, stock options that are currently exercisable or exercisable within 60 days, restricted stock units that vest within 60 days, the target number of market share units that vest within 60 days, and deferred share units.45 Includes options to acquire 1,832,400 shares, 3,661 shares attributable to his 401(k) account, 313,304 shares attributable to his Amended and Restated Danaher Corporation Executive Deferred Incentive Program (EDIP) account, and 670,761 shares owned indirectly.46 Retired from the board on December 28, 2012.47 Includes $29,284,268 in shares of common stock and $231,216,497 in shares of common stock Underlying Options or Stock Units.48 Includes shares of common stock directly or indirectly owned by each listed person, including shares held in 401(k) and Employee Stock Ownership Plan, and by members of his or her household and are held individually, jointly, or pursuant to a trust arrangement. The directors and executive officers disclaim beneficial ownership of an aggregate of 33,382 of these shares, including 32,582 shares listed as owned by Weldon.49 Includes shares under options exercisable on February 26, options that became exercisable within 60 days thereafter, and restricted share units that vest within 60 days thereafter.50 Consists of 445,519 shares of common stock, 1,713,996 shares of common stock underlying stock options, 13,473 shares of common stock held in a 401(k) Plan for the benefit of Hugin, 24,302 shares of common stock held by a family foundation of which Hugin is a trustee, and 4,800 shares of common stock owned by Hugin’s children.51 Includes $26,101,481 in shares of common stock, and rights to acquire an additional $241,232,227 in shares of common stock.52 These shares may be acquired upon the exercise of stock options.53 Includes 2,078,405 shares of common stock that may be acquired upon the exercise of options that were exercisable within 60 days of March 11, and 521,910 shares held in various trusts of which he or his spouse is a trustee.54 Includes 10,003,953 shares subject to stock options that were exercisable within 60 days of February 28.55 Includes 2,328,125 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17; and 2,352 shares of common stock held in an account under the Company’s 401(k) Savings Plan. Includes 160,188 shares of common stock held in a charitable lead annuity trust, and 97,575 shares of common stock held in a separate grantor retained annuity trust, of which Dr. Vagelos is the trustee. Includes 127,500 shares of common stock held in a trust for his grandchildren, of which Dr. Vagelos’ wife is the trustee. Includes 1,203 shares of common stock held in trust for his grandchildren, of which Dr. Vagelos and his wife are the trustees. Includes 33,199 shares of common stock held by the Marianthi Foundation and 364,461 shares of common stock held by the Pindaros Foundation (both are charitable foundations), of which Dr. Vagelos is a director and an officer. Dr. Vagelos disclaims beneficial ownership of the shares held by these charitable foundations.56 Son of company co-founder Alice N. Schwartz, ranked #4 on this list.57 Includes $44,905,660 in Class A shares of common stock and $502,191,043 in Class B shares of common stock that hold preferential voting rights, such as 10 times the voting power of Class As, and election of three directors (versus two for Class As), at the company’s Annual Meeting.58 Includes 2,348 Class A shares owned by his wife, as to which he disclaims any beneficial ownership. Includes 37,825 Class A shares pledged as security.59 Includes 4,060,054 shares of Class B common stock held by Blue Raven Partners, L.P., where he shares voting and dispositive power with Alice N. Schwartz and Norman Schwartz. Includes 12,266 Class B shares owned by Steven Schwartz’s wife, as to which he disclaims any beneficial ownership.60 Includes $571,017,111 in common stock and $9,109,170 in class A shares.61 Includes 1,514,154 shares of common stock purchasable upon exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17; 500,000 shares of restricted stock which vest on December 17, 2017; 83,333 shares of restricted stock which vest on December 14; and 5,591 shares of common stock held in an account under the company’s 401(k) savings plan.62 Includes 19,383 shares of Class A stock held in trust for the benefit of Dr. Yancopoulos’ children, of which Dr. Yancopoulos is a trustee.63 Includes $50,666,246 in Class A shares of common stock and $556,598,874 in Class B shares of common stock that hold preferential voting rights, such as 10 times the voting power of Class As, and election of three directors (versus two for Class As), at the company’s annual meeting. Includes 37,825 Class A shares pledged as security.64 He is among directors and officers who as a group have rights to acquire 109,200 Class A shares and immediately or within 60 days of February 28 under the company’s employee stock purchase plan and stock option agreements.65 Includes 4,060,054 shares of Class B common stock held by Blue Raven Partners, L.P., where he shares voting and dispositive power with Alice N. Schwartz and Steven Schwartz. Includes rights to acquire 326,862 Class B shares immediately or within 60 days of February 28 under the company’s employee stock purchase plan and stock option agreements. Includes 12,266 Class B shares owned by Norman Schwartz’ wife, as to which he disclaims any beneficial ownership. He is among directors and officers who as a group have similar rights to acquire 326,862 Class B shares.66 Includes $345,849,874 in Class A shares of common stock and $566,742,176 in Class B shares of common stock that hold preferential voting rights, such as 10 times the voting power of Class As and election of three directors, versus two for Class As, at the company’s annual meeting.67 Includes 2,772,912 shares of Class A common stock, and 34,311 shares of Class A common stock held by the David and Alice N. Schwartz Charitable Remainder Unitrust, of which Alice N. Schwartz is the sole trustee. Of the Class A shares, 1,167,088 have been pledged as security.68 Includes 4,060,054 shares of Class B common stock held by Blue Raven Partners, L.P., where she shares voting and dispositive power with Norman Schwartz and Steven Schwartz; 498,950 shares held by the David and Alice Schwartz Revocable Trust of which Alice N. Schwartz is the sole trustee; and 41,176 shares of Class B common stock held by DANSA Partners, a California limited partnership, of which Alice N. Schwartz is a general partner. Includes 41,176 Class B shares pledged as security.69 Includes $761,693,880 in common stock owned and $369,281,490 in Class A shares owned.70 Includes 1,693,915 shares of common stock purchasable upon the exercise of options granted pursuant to the Second Amended and Restated 2000 Long-Term Incentive Plan (or a predecessor version of the plan), which were exercisable or became so within 60 days after April 17; and 5,618 shares of common stock held in an account under the Company’s 401(k) Savings Plan.71 Includes 22,275 shares of Class A stock held in trust for the benefit of Dr. Schleifer’s son, of which Dr. Schleifer is a trustee.72 Class A stock is convertible on a share-for-share basis into common stock. The Class A stock is entitled to ten votes per share at the Annual Meeting, and the common stock is entitled to one vote per share.73 Includes share balances credited to his account under the Amended and Restated Danaher Corporation Executive Deferred Incentive Program (EDIP), which could have been converted into shares of Danaher Common Stock within 60 days of March 8.74 Includes 40,000,000 shares owned by limited liability companies of which he is the sole member, 10,435 shares attributable to his 401(k) account, 785,913 shares held by an estate as to which he shares voting and investment power, and 117,000 shares owned by a charitable foundation of which he is a director. He disclaims beneficial ownership of those shares held by the charitable foundation. The shares held by the limited liability companies are pledged to secure lines of credit with certain banks and each of these entities, and he is in compliance with these credit lines.75 Includes 40,000,000 shares owned by limited liability companies of which he is the sole member, 133,521 shares attributable to his 401(k) account, 785,913 shares held by an estate as to which he shares voting and investment power and 3,178,080 other shares owned indirectly. The shares held by the limited liability companies are pledged to secure lines of credit with certain banks and each of these entities, and he is in compliance with these credit lines.

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